82900 Avenue 42 - Restaurant FOR SALE


Indio, CA 92203
$4,800,000 USD
714-345-6514
82900 Avenue 42, Indio, CA for Sale
$4,800,000 USD
Restaurant - FOR SALE
1/2
null | 12.38% Cap Rate

82900 Avenue 42
Indio, CA 92203


HIGHLIGHTS

  • High annual sales of $2.44 mil, high income eover $594K annually by seller
  • Business-Only Purchase Option at $1.4 million on $594K annual income
  • Currently structured for absentee operation
  • Active full-time ownership is advised to maximize income potential

OVERVIEW

A popular drive-thru family restaurant and building are offered for sale at $4.8 million. The property encompasses a building of approx. 3,301 sq. ft. on a lot of roughly 37,462 sq. ft. (0.8 AC), built in 2008. This established free-standing café, a fixture since 2014, serving a growing upscale neighborhood. Proven high annual sales of $2.45 mil represented by seller, a solid high income of $594K annually. Net Income Potential: Seller projects a consistent monthly income of $49,510 (SDE) after deducting $18,000 in combined rent/CAM expenses, suggesting a potential increase to a monthly income of $67,510 as rent/CAM were received as the property owner (seller). This represents a strong income structure, though verification by the buyers is advised. Cost of goods sold is approx. 34.5%.. Operating Hours: Open 6:00 AM - 11:00 PM daily. Staffing: Currently employs 18-20, suitable for absentee ownership. Ample parking is provided. Pricing summary for buyers: $4.8 million (1) Total Asking Price: The $4.8 million asking price includes both business and property. (2) The property (building and land) is reasonably valued between $3.4 million and $3.6 million, subject to comparable sales (COMPS), yielding an approx. 5% cap rate based on the seller's NOI of $18,000. (3) Business Allocation: The business is fairly priced at $1.4 million, reflecting a net monthly income of $49,510 after a combined $18,000 in assumed rent and CAM, representing a potential absentee owner profit. (4)Business-Only Purchase Option at $1.4 million: For buyers interested solely in the business with the potential for future real property acquisition, a lease agreement with the seller would be structured at $15,000 per month plus standard triple net terms, with a lease duration of 5 + 5 years or negotiable alternatives. Completion of an NDA, buyer's profile, and proof of funds are required prior to disclosure of further information.

FOR SALE DETAILS

PRICE

$4,800,000 USD

PRICE/SF

$1,454 USD /SF

CAP RATE

12.38%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Goody's Cafe

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

5

LAND DETAILS

CROSS STREETS

Jackson St.

LAND ACRES

0.86 AC

LAND SF

37,462 SF

ZONING

CC

APN/PARCEL ID

692-220-023

ASK ABOUT THIS PROPERTY

Kevin KimAction Realty Task HoldingsMore Info
714-345-6514

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Kevin KimAction Realty Task HoldingsMore Info
714-345-6514

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.